In this Promotion Terms and Conditions the following terms shall have the meaning assigned to them below:
• “Promotion” means the SNACK Investment Launch Promotion
• “Distribution” means the bonus that will be given by the fund manager due to good performance of the sub-fund.
• “Income” means NTUC Income Insurance Co-operative Limited.
• “Investment” or “Invest” means a purchase of units from selected sub-fund using premiums or investment credit.
• “Investment Credits” means the value in the form of credits accumulated by you under this Promotion that will be invested once it has been redeemed. The value of the Investment Credits will not fluctuate, and it will not be eligible for any Distribution from the sub-fund, Asian Income Fund.
• “SNACK App” means the SNACK BY INCOME mobile application.
• “SNACK Investment” means the micro investment linked policy in the SNACK App.
• “SNACK Chillax Pack” means the SNACK Chillax Pack subscription product that consists of an Income insurance product, and Perks.
• “Lifestyle Activity” means one or more actions that the policyholder has selected in the policy application via the SNACK App to perform the lifestyle activity requirement which upon our receipt of the confirmation by the activity source of the policyholder’s completion of the lifestyle activity requirement and premium payment, will result in the issuance of this policy.
• “Perks” means perks offered by selected Income participating merchant available under the SNACK Chillax Pack.
• “14 days Free-look Period” means the 14 days from the date you receive the SNACK Chillax Pack insurance product policy contract from Income via email to be sure that you want to keep the insurance product. If you do not want to continue and there is no claim made under the policy within the 14 days period, you may cancel the policy by submitting your request through the SNACK App or email to firstname.lastname@example.org.
1. Income is offering complimentary SNACK Investment credits worth $20 (the “Complimentary Investment Credits”) under this Promotion, to the applicant who has successfully subscribed to the SNACK Chillax Pack for the first time via the SNACK App, subject to this Promotion Terms and Conditions.
2. The Promotion is valid from 14 February 2022 until 31 March 2022 (the “Promotion Period”).
3. You will be eligible for the Complimentary Investment Credits under this Promotion if:
i) you are a Singapore Citizen or Singapore Permanent Resident;
ii) you are between 18 – 61 years old (inclusive of both years);
iii) You have signed up for a SNACK account and have an existing and valid SNACK account on the SNACK App as at 9 February 2022; and
iv) you have successfully linked a Lifestyle Activity to SNACK Investment via the SNACK App;
v) you have completed the Customer Knowledge Assessment Form (CKA) via the SNACK App when you sign up for the SNACK Investment via the SNACK App;
vi) you have submitted your application for SNACK Investment and the relevant information required by Income via the SNACK App;
vii) you have applied for the SNACK Chillax Pack insurance product via the SNACK App for the first time and your application has been accepted by Income;
(viii) the 14 days Free-look Period has passed from the date you receive the SNACK Chillax Pack insurance product policy contract from Income and you have not cancelled the policy contract; and
(ix) you have received a push notification via your SNACK App regarding this Promotion.
4. If you are eligible to receive the Complimentary Investment Credits, it will be reflected on your SNACK Investment portfolio on the SNACK App by the end of the following Tuesday if the 14 days Free-look Period has passed from the date you receive the SNACK Chillax Pack insurance product policy contract from Income. The Complimentary Investment Credits will be allocated to your SNACK Investment portfolio registered under your account on the SNACK App.
5. Each applicant shall only be entitled to the Complimentary Investment Credits once, under this Promotion.
6. By accepting the Complimentary Investment Credits via the SNACK App, you authorised Income to invest the total value of the Investment Credits on your behalf.
7. The Complimentary Investment Credit is non-exchangeable for cash or benefit in kind.
8. Each applicant will only be eligible to a total of $20 worth of Complimentary Investment Credits under this Promotion and 100% of the Complimentary Investment Credits issued will be allocated into buying units from the sub-fund known as the Asian Income Fund. To find out more on the sub-fund, please click on the link https://www.income.com.sg/funds/asian-income-fund.
9. You agree that your right to redeem the Complimentary Investment Credits under this Promotion is subjected to you meeting all the eligibility criteria as set out in this Promotion Terms and Conditions. Income reserves the right to replace the Complimentary Investment Credits accumulated by you under this Promotion with any item of similar value (“Replacement Item”) at any time without prior notice and after which, you shall have no further claim to the Complimentary Investment Credits.
10. For avoidance of doubt, if you cancel your SNACK Chillax Pack subscription before the 14 days Free-look Period is completed and before the Complimentary Investment Credits are issued, the Complimentary Investment Credits will be deemed to have forfeited and no compensation will be given or paid in lieu.
11. Income reserves the right to replace the Complimentary Investment Credits with a Replacement Item at any time for any reason whatsoever without prior notice and after which you shall have no further claim to the Investment Credits.
12. The Promotion is not valid in conjunction with other incentives and promotions offered by Income.
13. This Promotion Terms and Conditions does not affect or change any term of the policy contract issued to you. If there is any inconsistency between this Promotion Terms and Conditions and any term of the policy contract, the term of the policy contract shall prevail.
14. Income reserves the right to change, suspend (in whole or in part) the terms and conditions of the Promotion and /or terminate the Promotion without any prior notice.
15. Income shall not be liable to any applicant or party, whether in contract or tort (including negligence) or otherwise, for any liabilities, losses and damages, claims, costs, and expenses or for any special or consequential damages or losses in connection with, related to or resulting from the use of the Investment Credits or the Replacement Item (if any).
● This material shall not constitute an advice of the suitability of the product. You should seek independent advice from a qualified advisor where in doubt. Buying insurance products that are not suitable for you may impact your ability to finance your future insurance needs.
● The relevant policy contracts shall be made available to the applicant via their email address registered under the SNACK App.
● Protected up to specified limits by SDIC.
Information is correct as at 14 February 2022.